Souq.com adds two new sectors to portal

Cairo, November 13, 2011

Souq.com, the largest e-commerce marketplace in Egypt and the Arab world, has added two new sections to its portal, both created to meet the needs of Egyptian automotive and property enthusiasts and traders looking to buy or sell their items online.

The two new sections are property and motors, a statement from a top official said.

It also launched a first-of-its-kind in the region property iPhone application which uniquely allows Souq Egypt users to interact with the portal while on the go, enabling them to browse or list properties from their iPhone from any location quickly and conveniently through location based services.

“Souq.com properties and Souq.com motors were developed in response to our users’ feedback and we have even developed an iPhone application which greatly improves and simplifies on-the-go interaction with the portal for buyers, sellers or those looking to rent property in Egypt,” said Omar Soudodi, general manager of Souq.com Egypt.

Souq.com motors brings automotive buyers and sellers together using an advanced yet easy-to-use interface to make browsing and listing vehicles easier and more convenient.

The rich user functionality and advanced search features enable buyers to find the right vehicle at the right price with a few key strokes while allowing sellers to take advantage of the numerous tools that enable them to quickly upload all the details of their vehicle for a faster sale.

“Our iPhone app is the first location based classifieds app in the region. Aiming to improve how we search for a property, users will be able to find nearby apartments on the go, contact the agent or the landlord right away from their mobile phones, and even get driving directions to the location,” Said Aboud Akhidr, global classifieds manager at Souq.com, said. "Further simplifying the selling process, property agents and landlords using our mobile app can take several photos of their property, set the price and the location and post their advertisement online hassle-free and without the need of a computer.”

“Souq.com properties already boast thousands of property listings for sale and rent by both private and institutional sellers,” Said Nardeen Abdallah, classifieds manager at Souq.com Egypt said. “Additionally, Souq has already signed agreements with major real estate companies including Coldwell Banker, Trenta, Nile State and Kishk real estate who are already posting properties on Souq with more companies coming online soon.”

The Egyptian real estate market is undergoing a major transformation, with studies by TAPR group in cooperation with USAID showing that 72 percent of youth living in Cairo, especially those under 30 years, wanted to move and live outside the capital in the coming ten years.

Online marketing has become a necessity that was confirmed by all demographics which represents 73 percent of internet users in Egypt are under the age of 30, the statement said.

Moreover, smart phones are growing dramatically in Egypt year-on-year and searching for property on the go will become a major advantage for Souq users in the near future.

Souq.com has been enjoying unprecedented growth in Egypt since its launch earlier this year. It is currently the fastest growing site in Egypt, and is now ranked 255th most popular website in Egypt by Alexa Internet., from its previous 7,000 rank earlier in 2010, it said.

The company’s exponential growth is being driven by its popularity as the premier online marketplace for people looking to buy or sell new and used goods over the internet. Souq.com is currently tripling its registered user base every month, and doubling the volume of goods sold online every month, becoming the largest e-commerce marketplace and auction website in the Arab world, it said. – TradeArabia News Service